As a fleet owner, whether you have five trucks or fifty trucks, the decision to add more to your fleet always requires serious thought. You’re probably asking yourself:
What are the top things I should consider when adding trucks?
There are many factors to consider when deciding whether to increase your fleet size, but among the most important are:
- Increased revenue
- More scheduling flexibility
- Additional time and resources
- Potential added risk
- Fleet management
Additional revenue.
An obvious positive outcome of adding trucks to your fleet is the increase in revenue generated by the ability to accept more loads. If you’ve found yourself with available capital to put towards adding trucks, then adding to your cash flow is probably the most important thing on your mind. Depending on which type of truck you’re considering, you could add anywhere from $2,500-$5,000 per truck to your weekly revenue.
If you’re familiar with one type of truck, it’s probably best to stick to what you know best unless you’re considering drastically increasing your fleet operations. For example, if you have mostly dry vans in your fleet, adding reefers could increase your costs more than you’re expecting due to higher insurance rates, more repairs, etc. Overall, adding a truck is a great way to boost your profits if you’re able to take on the out-of-pocket costs.
Scheduling flexibility.
By adding trucks, you’ll also likely need to add drivers. However, finding drivers can be challenging due to the current driver shortage impacting the nation’s supply chain. But if you commit to offering competitive wages and benefits, you should be able to find and keep good drivers. You can also look for drivers to fill gaps in your current geographic or scheduling availability.
With more drivers and trucks, you will open yourself up to a wider range of available loads, especially if you find drivers willing to take different routes than you are running currently. Plus, you’ll be able to keep running loads when other drivers take time off or trucks need maintenance.
Time and resources.
With the opportunity for more profit comes the inevitable expenditure of more time and resources. As you add trucks, you also have to consider the time, money and resources you’ll need for:
- Communication: Relaying trip information, scheduling updates and other details to the driver.
The costs of adding a truck are much more than the purchase of the vehicle itself and can be a significant reason why many people choose to limit their fleet size.
Potential added risk.
Adding more trucks and drivers may increase your business’s exposure to additional risk factors. With more trucks on the road, your likelihood of accidents increases. Additional employees could also mean more risk of fraud, theft or human error, leading to loss and damage on loads, more claims, etc. There’s also the risk that you encounter a slow season or that consistent routes dry up, leaving you with more trucks and drivers than you have loads to provide.
Fleet management.
It’s crucial to maintain a high level of service and prioritize safety as your fleet expands. It is no easy task keeping track of your drivers, trucks, load information, maintenance and repair schedules — along with everything else required of owning and managing a fleet.
If you don’t use fleet management software, you should consider investing in a solution that could save you valuable time, optimize your fleet performance and maximize your efficiency. Here are some benefits of adopting a TMS:
- Managing regulatory requirements
ProTransport is a fully integrated trucking software that’s customizable to fit your fleet’s needs, offering everything you need to manage your trucking company’s operations in one location.
Some helpful ProTransport features include:
Learn how ProTransport can benefit your company by simplifying and optimizing fleet management. Schedule a free demonstration today!